Bank owned homes in the Traverse Bay Area

Bank Owned Homes

Although we see a limited number of bank owned homes in this area, there are some available. Almost all bank owned homes become listed and banks rarely deal directly with anyone other than a few brokerages.

Bank Owned Homes Statistics

Total Listings: 76
Average Price: $103,719
Highest Price: $849,900
Lowest Price: $6,000

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Bank Owned Homes

All Listings Under $100,000 $100,000 - $200,000
$300,000 - $400,000 $700,000 - $800,000 $800,000 - $900,000
New Listings First
48 Properties Found.
Page 1 of 2
Photo of Listing #1820033

10744 Terrace

$130,000

Alden, Michigan
4 Bed, 2 Bath, 2200 Sqft, 0.56 Acres
Single Family

Photo of Listing #1822305

11267 Fewins Road

$42,400

Honor, Michigan
3 Bed, 2 Bath, 1568 Sqft, 3 Acres
Single Family

Photo of Listing #1822343

11998 Fisher Drive

$56,800

Kewadin, Michigan
2 Bed, 2 Bath, 922 Sqft, 0.8 Acres
Single Family

Photo of Listing #1820870

1515a Clark Road

$6,000

Central Lake, Michigan
3 Bed, 2 Bath, 924 Sqft, 1 Acre
Single Family

Photo of Listing #1822284

2543 Langs Lane

$129,900

Interlochen, Michigan
2 Bed, 2 Bath, 1506 Sqft, 10 Acres
Single Family

892 Kettle Lake Road

$41,500

Kalkaska, Michigan
3 Bed, 1 Bath, 1040 Sqft, 1.14 Acres
Single Family

6300 Lavenly Lane

$39,900

Mancelona, Michigan
1 Bed, 1 Bath, 1084 Sqft, 10.04 Acres
Single Family

1733 Plum Valley Road

$47,500

Mancelona, Michigan
3 Bed, 2 Bath, 1440 Sqft, 20 Acres
Single Family

4804 S Green Court

$137,900

Cedar, Michigan
3 Bed, 2 Bath, 1414 Sqft, 0.3 Acres
Single Family

4140 Evelyn Street

$89,900

Traverse City, Michigan
3 Bed, 2 Bath, 1120 Sqft, 0.21 Acres
Single Family

20081 Samara Trail

$164,000

Lake Ann, Michigan
3 Bed, 2½ Bath, 2348 Sqft, 1.11 Acres
Single Family

2166 E Log Lake Road

$74,000

Kalkaska, Michigan
5 Bed, 2 Bath, 1973 Sqft, 0.39 Acres
Single Family

3475 Paradise Road

$130,000

Kingsley, Michigan
3 Bed, 2 Bath, 1604 Sqft, 1.25 Acres
Single Family

738 Boardman Road

$71,900

South Boardman, Michigan
4 Bed, 1½ Bath, 1136 Sqft, 1 Acre
Single Family

8065 Streamwood Drive

$75,000

Central Lake, Michigan
4 Bed, 2 Bath, 1652 Sqft, 0.66 Acres
Single Family

5966 Maple City Highway

$199,900

Lake Ann, Michigan
4 Bed, 2 Bath, 2780 Sqft, 2.28 Acres
Single Family

9980 S Autumn Drive

$167,900

Traverse City, Michigan
5 Bed, 3½ Bath, 3334 Sqft, 2.5 Acres
Single Family

5435 Wilhelm Road

$73,260

Rapid City, Michigan
3 Bed, 2 Bath, 1338 Sqft, 1.76 Acres
Single Family

4500 Youngdyke Road

$168,000

Central Lake, Michigan
2 Bed, 2 Bath, 1480 Sqft, 11.32 Acres
Single Family

6653 S Betsie River Road

$94,900

Interlochen, Michigan
2 Bed, 1 Bath, 800 Sqft, 0.14 Acres
Single Family

2745 Hoosier Valley Road

$147,000

Traverse City, Michigan
3 Bed, 2 Bath, 1160 Sqft, 1.84 Acres
Single Family

Photo of Listing #1819991

4186 Huntington Drive

$159,900

Traverse City, Michigan
3 Bed, 2½ Bath, 2240 Sqft, 0.7 Acres
Single Family

10657 Riley Road

$30,000

Interlochen, Michigan
3 Bed, 1 Bath, 924 Sqft, 1.03 Acres
Single Family

Photo of Listing #1819802

9977 Windmill Pointe Drive

$29,500

Mancelona, Michigan
4 Bed, 2 Bath, 1512 Sqft, 0.5 Acres
Single Family

Photo of Listing #1819769

7093 Cook Road

$88,800

Williamsburg, Michigan
3 Bed, 2 Bath, 2112 Sqft, 1.15 Acres
Single Family

Photo of Listing #1819507

3849 N M-88

$51,300

Central Lake, Michigan
3 Bed, 1 Bath, 1270 Sqft, 2 Acres
Single Family

262 N Four Mile Road

$184,900

Traverse City, Michigan
4 Bed, 3½ Bath, 3642 Sqft, 11 Acres
Single Family

7502 Ne Starvation Lake Road

$34,900

Mancelona, Michigan
3 Bed, 1 Bath, 1252 Sqft, 10 Acres
Single Family

Photo of Listing #1818723

3215 Four Mile Road

$44,900

Traverse City, Michigan
3 Bed, 1 Bath, 1142 Sqft, 0.53 Acres
Single Family

Photo of Listing #1818571

507 Lincoln Street

$39,500

Kalkaska, Michigan
2 Bed, 1 Bath, 900 Sqft
Single Family

More information on Traverse Bay Area bank owned homes

Bank owned and repo homes in the Traverse Bay and Traverse City area can be a great deal, however, keep in mind that not all bank owned homes are deals.  Often they have been poorly maintained and if the bank gained possession of the home during the cold months, we have often seen frozen pipes.  This is not always the case and it is definitely worth considering a bank owned home.  Whether you are looking for a waterfront bank owned home, a bank owned Traverse City condo or just want to use our advanced bank owned search, TBAR Search has all the listed Traverse City bank owned homes.

 The best way to keep up with the market and to be one of the first to know about new or revised bank owned listings is to get set up with automatic email notifications.  Just let us know what you are looking for and we can get you set up and remember, you can opt out or change your search criteria anytime.

Also, here are the answers to a few bank owned home questions.

Do banks typically take much less than list price for their Traverse City area bank owned homes?

No, most often banks will have three basic appraisals  (often referred to as BPO's  - Broker Price Opinions) and will set a list price based on a those appraisals, along with other items.  Banks will then typically accept within 5% of list price, often depending on how long it has been at that price.  The banks will most often reject offers less than that, or counter back at full price.  If the asset (home) does not get an accepted offer within 45-60 days, the bank will usually reduce the price and go through the same scenario.  With that said, we have seen banks accept much less also, so it may be worth a try if it has been on the market for a while.

The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Copyright © Northern Great Lakes REALTORS® MLS. All Rights Reserved.